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situation. for the latest we begin with jon karl. jon, you broke the story of this framework late last night. this morning we were all told the leaders were going to inform their rank and file members of the details this afternoon, but hour after hour has gone by. the briefings haven't taken place, there's no final deal. >> the reason why it hasn't happened is because they have a few minor issues to be worked out. i'm told they are relatively minor issues. once that happens, the hard work happens, which is they have to convince enough rank and file democrats and republicans to support the bill to get it passed. a rare sunday on capitol hill. senators rushing to work and even rarer these days, the leaders actutually smiling. they finally have come together. congressional leaders and the president on a debt plan. it looks like this. a debt ceiling increase of up to $2.4 trillion. that's enough to last through the presidential election. agreement on up to $1.2 trillion in spending cuts over 10 years. a new congressional committee to recommend additional deficit reduction of up to $1.5 trillion.
a predicted economic disaster over the debt limit. let's bring in senior political correspondent, jon karl, please tell us there is some whiff of bipartisan compromise in the air. >> i would love to tell you that. there is no whiff quite yet. i can tell you in fact they are moving in the exact opposite direction. the house of course passed the republican version of the debt ceiling bill, john boehner's bill. the senate acted immediately to reject it. now i'm told the house is going to move forward tomorrow at 1:00 with a vote on the democratic version that harry reid has put forward. they're going to reject that. we will have republicans rejecting the democratic deal. democrats rejecting the republican deal. house-senate, no action. clearly there are negotiations going on behind the scenes. >> let's talk about worst case scenario. if the markets open on monday and tank, is there some trigger mechanism to avoid a cataclysmic event? >> there are emergency powers the president can exercise. before we get there, bill, what i expect to see happen is that the two sides will negotiate late into t
. will this break the log jam though? let's bring in abc's jon karl for the latest. >> reporter: the house just approved john boehner's bill to raise the debt ceiling. it was a narrow party line vote. he won only after giving into the demands of a handful of conservatives who forced him to make changes that assured the bill's defeat in the senate for speaker boehner, a painful victory. >> i stuck my neck out a mile to try to get an agreement with the president of the united states. i stuck my neck out a mile. a lot of people can never say yes. this house has acted. it is time for the administration and time for our colleague colleagues across the aisle, put something on the table. tell us where you are. >> reporter: he never got that agreement with the president and instead had to put pressure on tea partiers to support his bill. hours of meetings all over the capitol to tell them to get your ass in line. late last night, one of them emerged shaken but not budging. >> how much pressure on you to change your mind on that? >> i am very pleasantly surprised that they are not twisting and ripping a
to jon carl who first breck this story, the story of a framework last night. jon, dan used the word at the top of the broadcast, the emphasis here is on "fragile." >> that's right. the details are still being worked out. you know how important the details are, and nobody has signed on the dotted line yet. but i am told congressional leaders will brief their membership on the framework of this tentative deal later this morning. >> majority leader. >> late last night, senate majority leader, harry reid called off a vote on the debt ceiling plan, citing progress towards a deal. >> i'm glad to see this move toward cooperation and compromise. i hope it bears fruit. >> reporter: congressional sources tell abc news that two sides have tentatively agreed to a framework that includes a debt ceiling increase of up to $2.4 trillion, enough to last through the presidential election. agreement on more than $1 trillionon ispending cuts in the next ten years and a new special congressional committee to recommend additional deficit reduction of more than a trillion dollars. if congress doesn't act
karl is in washington and has more on all this. good morning, jon. >> reporter: good morning, robin. there is no presidential candidate with more momentum right now than michele bachmann. ♪ my home in -- >> reporter: no republican presidential candidate has taken a harder line on the debt ceiling showdown than michele bachmann. >> we were all shocked and appalled that president obama dangled out in front of the cameras that senior citizens may not get their checks. that's a very dangerous statement to make. we don't believe -- excuse me. excuse me. we don't believe that for a moment. >> reporter: tough talk from bachmann is nothing new but she now speaks with new-found authority as a top tier contender for the republican presidential nomination. a new national poll puts bachmann firmly in second place as the leading challenger to front-runner mitt romney. and in key first caucus state iowa, three separate polls over the past week put bachmann in first place. >> republican primary voters are looking for somebody who has -- brings some excitement, who brings something different to t
are saying it can be done. failure to do it would lead to economic meltdown. >> jon, thank you very much. joining me to discuss the road ahead is the white house chief of staff bill daley. thank you very much for joining us. you've heard what jon said. you've seen what speaker boehner has done last night. what's your reaction to the deal being pulled right now? >> it's very unfortunate the speaker made the comments he has. the president is committed to solving this deficit possible for the future of america. he's looking forward to the meeting to play out his case. he's saying, it is time now to make the tough decisions. in this town, generally they kick the can. nobody wants to do the tough things. he's committed to do that. he's not giving up on trying to bring economic sanity to the city and that's his goal. >> is he still committed to the mega-deal, so to speak? because this is what is floated in the last several days that speaker boehner said no longer possible. will the president continue to push for that? >> the president believes it is time to solve this problem. time to give con
. >>> the red sox, there's jon lester as the red sox took on blue jays. lester strikes out adam lipid. he left with a no-no ink tact. blue jays down 3-0. jose bautista, deep into the night, 28th home run of the season. blue jays are down now. later in the inning john mcdonald and heads to home, mcdonald, the throw, nicely done. he may have beaten the tab but the red sox win it, 3-2. >>> albert pujols expected to miss up to six weeks with a small fracture had his left wrist, back after 15 days. activated tuesday but not in the lineup. holliday was. that leaves in a early. 16th multihome run game of his career. lance berkman gets every bit of that pitch, 350th career home run as the cards win , 8-1. that'll do it for this espn news update. i'm will selva. >>> all right. well, police in the bay area are trying to track down a stolen picasso and the man would swiped it from the san francisco art gallery. >> a well-dressed man in dark glasses grabbed the pencil drawing and hopped into a waiting taxi. the 1965 work titled "head of a woman" is the size of a standard sheet of paper but experts say it
competitors were hitting the campaign trail. michele bachmann, jon huntsman. he was searching for support in new hampshire. >> doing it the way it should be done getting out getting small groups of people. >> our founders were not afraid to talk about a creator. they were not afraid to articulate the fact that we were created in the image and likeness of a holy god. >> hunstman will spend independence day in new hampshire. michele bachmann will be in iowa. >>> let's check on traffic and weather. all eyes are on how the day will shape up. >> said that everybody should have their umbrellas and ponchos -- you said that everybody should have their umbrellas and ponchos ready. >> might annual forecast is to have that umbrella -- my annual forecast is to have that umbrella handy. be prepared. lightning is the main concern with everybody being an outside. if you hear thunder, that means lightning is in the area. your safest inside a structure -- you are safest inside a structure. you are also safe from lightning inside your car. look at the rain from those storms yesterday. chevy chase 1.81 in
down its debt. abc's jon karl explains. >> reporter: we took a journey to the u.s. mint in philadelphia for a lesson in how the government is losing money by making money. this is the presidential dollar coin. congress ordered the mint to make millions of them to honor every dead president but nobody seems to want them. they cost 32 cents a pop to make. the mint makes nearly 2 million of them every day. do the math. about 600,000 dollars a day to make them. because almost nobody uses these things, most go directly into storage. we found a bunch of them 100 miles down the road in a vault. here at the federal reserve in baltimore, the coins are packed into plastic bags stacked one on top of each other all the way up and down this aisle several aisles of them, millions and millions of dollars in presidential coins. federal reserve says they are piling up so quickly they are spending $650,000 to build a new vault in dallas to hold them. shipping the coins there will cost another $3 million. senator jack reed was one of the co-sponsors of the bill that directed the mint to make the coins. us
-up and a straw poll preview. >> david joins us now in the studio to explain. let's begin with an jon huntsman's campaign. it was not the smoothest roll- out. >> you don't get much time to show progress in these campaigns. his campaign manager planned a big meeting today in washington to determine what to do next, how to get more aggressive. he has not shown much progress in the national polls and the first poll in new hampshire showing him in single digits. >> the august straw poll is coming up in iowa. >> tim pawlenty, another candidate stuck in a rut. a lot of that is tied to the rise of michelle bachmann. she is rising and is a close second to mitt romney. iowa willtim pawlenty has to do well. will they place rick perry on the ballot? saturday will be the big day. they both need to do well including michelle bachmann. >> thanks. have a great weekend. >>> time for traffic and weather every 10 minutes. straight to adam caskey. >> dangerously hot temperatures today. it will feel like 118 degrees when you factor in the humidity. these are temperatures in the shade that we refer to. there's a b
and jon huntsman met face to face. what did they say? >> it was a nice exchange, a nice greeting. wishing each other luck and being friends. that's the way that all the candidates on the republican side should be. >> reporter: halfway across the country in clear lake, iowa, two other candidates enjoyed the same parade though hardly the same crowds. >> hi there. happy fourth of july. >> reporter: the surging michele bachmann was surrounded by a sparkly throng of supporters and a new campaign bus. the fourth is a glorious day for all americans including candidates. for them, it may be a chance to take a break from their recent big obsession, cash. mitt romney expects to come in somewhere south of 20 million. tim pawlenty, jon huntman and ron paul all way south of that. around 4 million apiece. meanwhile, president obama could raise as much as 60 million, though he spent the day with men and women whose value is beyond priceless. >> i cannot think of anybody i would rather celebrate with than all of you, the men and women of our military and our extraordinary military families. >> reporter:
on the outcome. abc's jon karl joins us with the latest. what about it? how close are we finally to a deal? >> reporter: getting close to a deal. the outlines of this deal include up to $3 trillion in spending cuts over the next ten years including some cuts to popular entitlement programs like medicare and social security, also, elizabeth, it would include a promise or a commitment that congress would bring more money in through tax revenues by reforming the code, closing some of those loopholes, something that congress would act on. >> that last one, isn't that basically a tax increase in disguise? >> well, certainly some will call it that. the rates won't go up. congress would have to act over the next year. if they didn't ago, automatic steps would be taken that both sides wouldn't like which would be tax hikes and spending cuts possibly talking about repealing part of the health care bill. >> even if president obama and speaker boehner reach a deal they have their own rank and file to make happy. i was struck by a comment by barbara mikulski. we heard reports of a trillion dollar cut
senator jon kyl. and the "roundtable" debate the politics of the divide. plus -- >> i apologize. >> rupert murdoch under fire. heads roll at his media empire, but will that be enough to save it? >>> and in africa, a cry for help. millions, threatened by an epic drought, the worst in 60 years. we'll take you there. then, we're live from germany where the american woman's soccer team has a shot at making history. >> announcer: live from the newseum in washington, "this week" with christiane amanpour starts right now. >>> welcome to the program. we've got lots to get to this morning. but, first, some headlines since your morning papers. there is breaking news to report in london. the bbc has learned that rebecca brooks, rupert murdoch's top lieutenant in the uk has been arrested on suspicion of corruption. earlier she resigned from her position as chief executive of news international. in the wake of the scandal rocking the murdoch empire. much more on this developing story later in the program. >>> casey anthony is a free woman this morning. she walked out of jail just after midnight, 12 day
. abc's jon karl joins us from washington. all talks secret up until now. what more do we know about what president obama and the speaker of the house have been discussing. >> reporter: a big deal here, george. as you mentioned, this would mean that the president would go along with reductions in spending to social security and medicare, most likely cost of living increases going down and in exchange republicans would accept some increase in tax revenues as part of an overhaul of the tax code. as one top administration told me, we need to do something unthinkable on entitlements. they need to do something unthinkable on tacks. >> unthinkable may be the word. these talks have been going on between the president and speaker boehner but there hasn't been a lot of discussion among a wider conferences in the house and the senate democrats and republicans and i guess the big question coming out of today's meeting, when other leaders find out about it, is it something they can work with and is it something that will fly? >> reporter: a great question. boehner and the president may be able t
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